Financial Planning Services in Scarborough
Personalized strategies to build wealth, protect your family, plan for retirement, and achieve your long-term financial goals.
Plan for the Future You Want
Financial planning is about more than investments. It is a comprehensive process that aligns your money with your life goals — whether that means retiring comfortably, funding your children's education, growing your business, or leaving a legacy. Without a plan, decisions are made reactively, and opportunities are missed.
At CanMore Accounting, we take a holistic approach to financial planning. We start by understanding where you are today — your income, expenses, assets, debts, and goals — and then build a personalized roadmap that evolves with you. Serving individuals, families, and business owners across Scarborough and the Greater Toronto Area, we provide the guidance you need to make confident financial decisions at every stage of life.
- Retirement Planning (RRSP)
- Education Savings (RESP)
- Business Succession Planning
- Investment Advisory
- Cash Flow Management
- Estate Planning Strategies
What Our Financial Planning Covers
A good financial plan touches every aspect of your financial life. We work with you across these key areas to build a strategy that is practical, tax-efficient, and aligned with your priorities:
Retirement Planning
Retirement planning starts with a clear picture of what you want your retirement to look like and how much it will cost. We calculate your retirement income needs, factor in Canada Pension Plan (CPP) and Old Age Security (OAS) benefits, and design an RRSP and TFSA contribution strategy that maximizes your savings while minimizing your tax burden. For those closer to retirement, we develop drawdown strategies that ensure your savings last.
Education Savings
The cost of post-secondary education in Canada continues to rise. A Registered Education Savings Plan (RESP) is the most tax-efficient way to save for your child's education, and the Canada Education Savings Grant (CESG) provides up to $7,200 in free government money per child. We help you open and manage RESP accounts, choose appropriate investment options based on your child's age, and plan contributions to maximize grant eligibility.
Investment Strategy
Investing is a means to an end — the end being your financial goals. We assess your risk tolerance, time horizon, and liquidity needs, then recommend a diversified portfolio strategy. Whether you prefer conservative fixed-income products, balanced mutual funds, or growth-oriented equities, we ensure your investments are appropriate for your situation. We also review existing portfolios for fee efficiency, diversification, and alignment with your plan.
Business Succession and Exit Planning
For business owners in Scarborough and the GTA, your business may represent the largest portion of your net worth. Succession planning ensures a smooth transition — whether you are passing the business to a family member, selling to a partner, or finding an outside buyer. We work on business valuation, tax-efficient structuring, funding mechanisms (such as life insurance), and timelines that protect both your financial interests and the ongoing viability of the business.
Estate Planning
Estate planning ensures your assets are distributed according to your wishes while minimizing taxes and legal complications for your heirs. We coordinate with your estate lawyer to assess your situation, recommend strategies such as trusts, beneficiary designations, and life insurance funding, and ensure your financial plan accounts for the eventual transfer of your wealth. This is especially important for business owners and individuals with complex asset structures.
Who Benefits from Financial Planning?
Financial planning is valuable at every stage of life. Our clients in the Scarborough and Greater Toronto Area include:
- Young professionals building their first savings and investment strategy
- Families balancing mortgage payments, education savings, and retirement goals
- Business owners looking to grow their company wealth and plan for succession
- Pre-retirees who want to ensure they have enough to maintain their lifestyle
- Retirees seeking to manage their drawdown strategy and estate planning
- Newcomers to Canada who need guidance on the Canadian financial system, tax-advantaged accounts, and available government benefits
Financial planning works best when integrated with the rest of your financial picture. Our clients often combine this service with tax preparation, bookkeeping, and insurance to create a unified, efficient financial strategy.
Our Financial Planning Process
Discovery Meeting
We sit down with you to understand your current financial situation, your short-term and long-term goals, your risk tolerance, and any concerns. This is a candid conversation — the more we know, the better we can help.
Analysis and Strategy
We analyze your finances, run projections, and identify gaps between where you are and where you want to be. We then design a written financial plan with specific, actionable recommendations.
Implementation
With your approval, we help you implement the plan — opening accounts, reallocating investments, setting up automatic contributions, coordinating with your insurance and tax strategy, and addressing any immediate priorities.
Annual Review and Adjustment
Your plan is a living document. We meet annually to review your progress, adjust for life changes, update projections, and ensure your strategy continues to serve your evolving goals.
Frequently Asked Questions
When should I start financial planning?
The best time to start is now, regardless of your age or income level. The earlier you begin, the more time your investments have to grow through compound returns. That said, it is never too late. Whether you are in your twenties and just starting your career or in your fifties and thinking about retirement, a clear plan helps you make better decisions with the resources you have.
What is the difference between an RRSP and a TFSA?
An RRSP (Registered Retirement Savings Plan) gives you a tax deduction when you contribute, and your investments grow tax-deferred until withdrawal — at which point they are taxed as income. A TFSA (Tax-Free Savings Account) does not offer a deduction on contributions, but all growth and withdrawals are completely tax-free. The best choice depends on your current and expected future tax brackets. Many people benefit from using both strategically.
Do you provide investment advice?
We provide investment advisory services as part of our comprehensive financial planning. We help you understand your risk tolerance, time horizon, and goals, then recommend an investment strategy and specific products — including RRSPs, TFSAs, RESPs, non-registered accounts, and GICs. Our advice is objective and focused on your long-term financial wellbeing.
How does business succession planning work?
Business succession planning involves creating a structured strategy for transferring ownership of your business when you retire, become incapacitated, or pass away. This includes valuing the business, identifying potential successors (family members, partners, or external buyers), structuring the transaction tax-efficiently, and ensuring the business can operate smoothly during the transition. We work with your legal advisors to cover both the financial and operational aspects.
How often should I review my financial plan?
We recommend a comprehensive review at least once a year, as well as after any major life event — marriage, divorce, the birth of a child, a job change, receiving an inheritance, or a significant change in income. Markets and tax laws also change, so annual reviews ensure your plan stays aligned with both your goals and current regulations.
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Build Your Financial Future
Take control of your financial destiny with expert planning and strategic guidance tailored to your goals.
Create Your Plan- Wealth Growth
- Retirement Security
- Education Funding
- Legacy Building